The House of Representatives will vote as soon as this week on H.R. 2, the “Moving Forward Act,” a comprehensive $1.5 trillion infrastructure spending package. In addition to investing substantially in repairing the nation’s roads and bridges and improving broadband access, the infrastructure bill includes the “Housing is Infrastructure Act” introduced by House Financial Services Committee Chair Maxine Waters (D-CA) and passed out of the Committee in February 2020. The “Housing is Infrastructure Act” proposes $100 billion to construct and preserve 1.8 million affordable homes, through $70 billion for public housing capital repairs and $5 billion for the national Housing Trust Fund, among other things.
In addition to the proposed $100 billion for affordable housing, the bill would expand the Low Income Housing Tax Credit and create targeted housing incentives to build homes in rural and tribal communities and for people at risk of homelessness. The bill would also establish a Neighborhood Investment Tax Credit to subsidize certain development costs for the construction of new homes or rehabilitation of vacant homes.
The bill also includes provisions to encourage localities to plan for affordable housing around transit corridors and make it easier for local transit agencies to transfer transit-oriented developments to nonprofit organizations.
While the bill is expected to pass in the House, the Senate is unlikely to vote on the infrastructure package.
For more information, read the text of the “Moving Forward Act” at: https://tinyurl.com/y8gqron4
See the House Democrat’s factsheet on the “Moving Forward Act” at: https://tinyurl.com/y7ft3frx
Learn more about NLIHC priorities in an infrastructure package at: https://tinyurl.com/yct8oms5